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DEL.ICIO.USA conversation with Jim Jacoby, master developer of Atlantic Station
The Atlanta Journal-Constitution
As soon as we meet in his conference room at Atlantic Station (complete with a built-in aquarium), Jim Jacoby asks what I want to talk about.
“We’ve got whale sharks, dolphins, turning trash into gas, turning waste treatment sludge into energy, the Ford plant, e-Learning, Atlantic Station…,” Jacoby says.
In short, Jacoby has no deficit of interests, causes, business projects and philanthropic pursuits. Spending several hours listening to him talk about his ventures is exhausting. How is one man able to juggle so many interests at once? How does he define himself and all his interests?
The questions stump him. We spend several minutes drafting a definition of what Jacoby does. “I’m a developer of renewable energy and green real estate,” he finally says.
It didn’t start out that way. Jacoby, a native of Miami and son of a contractor, moved to Atlanta in 1973. He got involved in real estate as a broker and leasing agent. That led him on the development path.
“I had a reputation as a strip-center developer,” says Jacoby, who brought Wal-Mart and Publix and other big box stores to the suburbs. “For so many years, we spread everything out. We wanted to keep everything separate — our houses, our offices.”
Jacoby, who likens his evolution to a dimmer slowly brightening a room rather than a light-bulb going on, then began to help smaller Georgia cities revive their downtowns with new retail.
“I’m not sure whether it was the world that changed, or that I changed to more sustainable development,” Jacoby says. “It was a transformation from greenfield development to redevelopment. We came back into the city in the early 1990s.”
No project was as transformational as Atlantic Station, a former steel mill near downtown. The 140 acres were plagued with environmental problems and soil contamination. It was an extremely complicated, multi-faceted development needing strong federal, state and local support.
Jacoby became interested in the project in 1996. He got an option to buy the property in early 1997, and soon after, he got the land rezoned to allow for 20 million square feet of development.
But later that same day, the federal government declared Atlanta was out of compliance with clean air standards and froze federal transportation dollars — jeopardizing plans to build the 17th Street bridge linking the project to Midtown.
“We literally had champagne in the morning and Advil that night,” Jacoby says. But in the end, Atlantic Station and the 17th Street bridge got the government green light because it was viewed as a mixed-use development that could improve Atlanta’s air quality.
Twelve years later, Jacoby is amazed at the $4 billion development on 140 acres, which he says is only half built.
“Who could not be pleased with what we ended up with?” Jacoby asks. “It’s a collage of ideas. Nobody talks about Atlantic Station being a brownfield anymore.”
Instead, developers all over the region say they want to build the next Atlantic Station, even though there are few opportunities to develop a project of that scale.
And Jacoby snagged the next big one himself. In January 2006, Ford Motor Co. announced it would close its plant near the airport, leaving 122 acres for redevelopment. Ford began negotiating to sell the land to Jacoby’s firm because of its experience with brownfield redevelopment and its Atlanta ties.
Jacoby closed on the sale in June. (He and his partners had to do a cash deal because bank loans are so tight.) Now they are demolishing and doing environmental cleanup on the site, which should take nine months.
“We are zoned for 6.5 million square feet, and we could have a $2 billion project, half as big as Atlantic Station,” says Jacoby.
The development, a combination of offices, retail, industrial and possibly a hotel, will be built to green standards and use solar energy. Jacoby also wants to take the airport’s garbage, clean it and turn it into energy. “We want to get rid of some of the air quality issues around the airport,” he says.
That leads to Jacoby’s other major business interest: alternative energy. He is working with major utilities, including AGL Resources, on to come up with alternative energy opportunities. The rising cost of fuel suddenly all of a sudden has made these ventures viable.
So Jacoby is on a project designed to reclaim methane gas from Georgia’s largest landfill — Live Oak in DeKalb County. “We can run 400 MARTA buses a day with that gas,” Jacoby says.
He has other clean energy plans in metro Atlanta, Florida and elsewhere, including cleaning up landfills and converting sewage sludge into energy. Jacoby says this side of his business could end up being bigger than his traditional developments.
But those two sides of Jacoby still only scratch the surface. Jacoby owns Marineland in Florida, which allows visitors to view or even swim with dolphins. He also is working with the Georgia Aquarium and Bernie Marcus on a proposed dolphin exhibit.
“I have three baby dolphins,” Jacoby showing off pictures as would a new dad. He starts talking about how dolphins are the “canaries of the ocean,” critical to the health of the planet. Then he reluctantly talks about another dolphin project, worried he might come off as strange: “I want to work with inner-species communications,” he says. “Who knows what we can learn from animals.”
There’s also his involvement with medical technology research at Georgia Tech. Could there be a pacemaker for the brain that helps prevent seizures?
“I have a special-needs daughter who has seizures,” he says of his youngest daughter who, at 21, is home-schooled. “That’s one of the reasons I’m out here looking for answers.”
Jacoby also has been working with school systems from Atlanta to Hawaii, giving or selling small computers to stimulate learning.
Jacoby credits his ability to work on so many diverse projects to his small team of co-workers and partners. He sees himself as an explorer in life’s challenges, as well as an orchestra leader.
“There are issues out there that need a champion. It’s exciting to be able to make a difference,” says Jacoby, 64, who shows no signs of slowing down. Despite the tough economic climate, he considers the Ford development “a pretty safe deal” that could lead to him working with Ford on other former plant sites.
“I’m fortunate that I don’t have to go out to pasture,” he says. “I can still play with my erector set and build communities.”
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By Reasonable Citizen
July 27, 2008 10:30 AM | Link to this
Most of what I’ve read seems worthy of applause. The comment regarding interspecies communication is frightening. I assume we’re missing the boat not talking with our dogs in barks and growls. And what about the song birds? Are their compositions of music pleaing for us to be better humans? Or are they just looking for a mate? Dolphins are really cool, but not talking to us…nor would they want to, given our strip malls. Stick to the solar panels.
By Pete
July 27, 2008 10:50 AM | Link to this
Jacoby comes across as one who sees in a problem an opportunity for creative solutions. That is refreshing. The Atlantic Station project has been a positive, though there have been some problems, but all in all it’s a positive approach for revitalizing urban areas. As for communications with dolphins, hey, those are pretty smart animals so who knows?
By Atlantan
July 27, 2008 12:48 PM | Link to this
Atlanta needs him badly. Way to go!! I LOVE ATLANTIC STATION!!!
By Constance Colvin
July 27, 2008 1:18 PM | Link to this
I’m excited to learn that someone with both heart and vision will undertake such a large project as the Ford Plant. It can only lead to progress for the Southside of Atlanta. Mr. Jacoby has a proven record of success and if the Ford Plant is half as successful as the Atlantic Station Project it will revive an area in Atlanta that all the other developers seem to ignore. Jobs, economic growth and tax dollars are just a few of the advantages this project will bring. Thank you for your vision and the drive to get this project done!
By Julia
July 27, 2008 2:53 PM | Link to this
I think that state Public Health should be an integral part of the redevelopment. Building a green mixed use area from a brown spot of land is a wonderful thing, and should engage the communities that the redevelopment will serve. Public health involvement can assist with that, and input from the health perspective can ensure that the community’s health will be considered.
By vegasman
July 27, 2008 9:58 PM | Link to this
atlantic station (nice name)is a joke. me and my friends call it stupid station. they should have put all the retail on 17th street instead of behind the street. good job Jacoby, next time you may develope an exact copy of underground.
By Derek Korn
July 28, 2008 10:18 AM | Link to this
This organization is such a positive releif for Atlanta. I have watched this group and they have no hidden agendas and if they can make money doing something postive for the communitiy then God Bless them. Jim, now pick a year to run for Atlanta mayor.
By Kwanza Hall
July 28, 2008 2:42 PM | Link to this
Jim,
Thank you for all that you have done for Atlanta. It is pleasure to serve such a great constituent. Keep on keeping on with the green agenda.
Kwanza Hall
By Keon
July 28, 2008 5:11 PM | Link to this
I’m surprised but please that Mr Hall has the time and desire to post on something like this. It’s good that an elected official would actually READ the new and even be comfortable enough to comment.
I think it would be great if my Jacoby was able to use his wealth and influence to push out more rapid mass transit initiatives. The beltway and trolley ideas are sputtering because of the economy and greed. Obama has said that if elected he would reinvest in America’s infrastructure…if that is the case, then we NEED that money and it needs to be used to reach the burbs regardless of their own personal desires.
By Bleeechhh!
July 28, 2008 11:00 PM | Link to this
It is good that Jim Jacoby is not resting on his Atlantic Station laurels. That place is an unmitigated disaster. Maybe the dolphins will teach him how to do a better job on the Ford site. He can call it Atlantis Station.
As for Kwanzaa Hall, I am happy to see that an elected official can read and write. I had my doubts. How about reading something about pensions Kwanzaa? You clearly did not understand them when saddling the city with debt.
By Rick
July 29, 2008 10:24 AM | Link to this
Atlantic Station was a great concept but it really looks kind of cheap. I wonder what that place is going to look like in 20 or 30 years. I question the long term viability of it in terms of being able to retain a level of quality necessary for such a densely populated location.
By KT
July 29, 2008 12:22 PM | Link to this
Mr. Jim, You are doing great things for the City of Atlanta and the surrounding areas! I applaud you and believe that you were given a vision and your special needs daughter is probably one of the reasons you are so humble. Remember there are always going to be some haters out there, you can never satisfy everyone;as long as you know in your heart that you are doing the RIGHT thing it really doesn’t matter what anyone else thinks! And yes the SOUTHSIDE needs your vision. May the Good Lord continue to provide you with the vision and the finances to complete your projects! The best to you and your daughter!!!
By Pam Davidson
July 29, 2008 5:58 PM | Link to this
Excellent article about a successful businessman (in every sense of the term). Thanks for supporting other environmental industries while you pursue your own. Green business is good business- and the business of Georgia’s future.
By Shirley Julien
August 6, 2008 9:01 AM | Link to this
Heal The Atmosphere Association/Shanti Villa-Atlanta is dedicated to the preservation of the planet. We are writing to you today to extend an invitation for you to join us in participating in Every Day Earth Day Mega Event scheduled for September 22-23, 2008 in Atlanta, GA. With this event, our primary focus is to keep the idea before the populous that every day is earth day. We are sure you have recognized the urgency for all of us to come together to help protect and care for our planet - no matter what walk of life we follow. This event provides an opportunity for us to: • Keep the environmental concerns in the public eye daily • Exchange ideas as well as give people tools on how to make this a powerful reality • Give people back their power to reclaim their right to care for themselves and their environment • Allow us to create a unified front among the major players in the environmental field thereby exposing the public to eco-solutions Every Day Earth Day Mega Event will be a two day event to include the following: Monday Sept. 22nd Every Day Earth Day Green Expo which will consist of lectures, seminars, music concerts, and an abundance of informational tools for the public to incorporate into their daily lives. The expo will be located at the Ashok Palace (inside the Hindu Temple of Georgia) 5900 Brook Hollow Parkway in Norcross. Tuesday Sept 23rd will be the Every Day Earth Day 3-mile walk from Woodruff park to Freedom Park to gain awareness and solidarity in caring for the planet. Please let us know how you and your organization would like to participate in these exciting events. Attached you will find a vendor application. If you interested in becoming a vendor or would like to disseminate information please fill it out and return to us immediately. We can be reached at 404-941-7495 or healtheatmosphere@gmail.com Truly Yours, Shirley Julien, Events Coordinator Heal The Atmosphere Association